Aramid Fiber Market Size By Product (Para Aramid, Meta Aramid, Copolyamide), By Application (Safety Applications, Optical Fibers, Frictional Materials, Tire Reinforcement, Rubber Reinforcement, Electrical Insulation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Jul 2021  |  Report ID: GMI812  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 200   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Overview

Aramid fiber market size was USD 3.5 billion in 2020 and is estimated to exhibit a CAGR of over 9% from 2021 to 2027. Rapidly growing safety products demand across the globe is anticipated to fuel the industry growth over the forecast period.
 

Aramid fibers have been highly desirable industrial fibers in the recent years for their unique characteristics such as high strength, dimensional stability, and heat resistance. These are long chain synesthetic polyamides in which at least 85% amide linkage are attached between two aromatic rings.
 

Aramid Fiber Market Outlook

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Aramid fiber consumption is likely to witness robust growth with the growing demand for disaster readiness materials. Technological advances aimed at reduction of soldiers’ load and improved personal protection are estimated to drive the need for lightweight and soft body armor in the near future. This will in turn have a positive influence on the aramid fiber market by 2027.
 

Aramid fibers prove to be a suitable replacement to asbestos, particularly in case of composite materials. Rising anti-asbestos norms will bring brighter prospects for aramid fibers across various industries in the near future. The market has witnessed consistent technological upgrades, especially in military equipment, in order to address the rising asymmetry in warfare. Industry players have been striving to improve their cost competitiveness by increasing productivity and manufacturing capacities with the automation of production processes.
 

The COVID-19 pandemic will affect the product demand over the forecast period

The pandemic has caused the global sales of aramid fiber to fall 10% in 2020 in comparison with 2019, and still further in early 2021. Restricted mobility, decreased customer spending, and disrupted equipment supply chains have led to decreased fixed investments, causing havoc on the aramid fiber producers. Lockdown in several countries, such as China, India, U.S., Brazil, Italy, Spain, France, and the UK, has also affected the production and consumption of the product.
 

Aramid fiber market to be largely driven by para-aramid demand

              Aramid Fiber Market by Product

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Para-aramid fibers are ideal in terms of strength and heat resistance. Accordingly, they are mainly used as reinforcement for tires and friction material for automobile brake pads, reinforcing optic fiber cables, rope and deep-sea oil drilling and for ballistic protection and protective materials. Para aramid fibers held the highest share of over 70% in 2020 and will maintain their dominance in the global landscape by 2027. Various properties such as superior corrosion, humidity and heat resistance in extreme environments are expected to drive the demand for para aramid fibers in the near future.
 

Copolyamide demand is expected to experience healthy gains during the forecast timespan. Significant R&D activities by the industry players for copolyamide based products will boost the aramid fiber demand at over 7% CAGR over the forecast period.
 

Product demand for safety applications will surpass USD 2 billion by 2027

              Aramid Fiber Market by Application

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Safety applications of aramid fibers consist of protective apparel and accessories to provide protection against bullets, stabbing, heat, cuts, fragments of bombs & shrapnel, etc. The products in this area consist of ballistic apparel, industrial gloves, hard armors, vehicle armors, etc. A surge in asymmetric warfare incidences and mishaps globally has resulted in increased defense investments by various nations in the recent years. Growing strains across the borders have led to a rising demand for ballistic shielding products such as bulletproof vests, armored car, headgear, missiles, eyewear, etc.
 

Safety applications contributed the highest share in 2020. Rising defense investments by various nations will drive the aramid fibers demand in safety applications by 2027.
 

Rapidly growing aviation industry in U.S. will drive the aramid fiber demand in North America

  Aramid Fiber Market by Region  

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North America will grow at 11% CAGR expectations to exceed USD 2 billion by 2027. This growth can be attributed to the increasing aircraft production for civil and defense purpose. As per Boeing estimations, the global demand for new airplanes is likely to be around 40,000 by 2035, with North America accounting for the highest share at above 15,000 airplanes. Strong growth aspects in the aviation sector will boost regional aramid fiber market share over the stipulated time period.
 

New automobiles sales in Canada surpassed 2 million units in 2017, rising from 1.5 million units in 2010. In the same year, the U.S. new automobiles sales reached 17.6 million units from 11.7 million units in 2010. This is expected to have a positive influence on the North America aramid fiber market sales for automobile applications. The U.S. contributed the highest share in global military expenditure. Enormous defense budget in the U.S. will result in this region’s high market share during the forecast period.
 

Companies are increasing their production capacity to cater the rapidly growing product demand

Companies operating in the aramid fiber industry are increasing their production capacity to meet the rapidly growing product demand. In July 2017, Teijin expanded the capacity for the Twaron aramid at its manufacturing facility in Emmen, Netherlands. The company made a substantial investment in the new spinning technology to achieve enhanced automation of the spinning process, thereby reducing the physical efforts of operators. This increased production capacity will help the company cater to the increasing product demand across Europe.
 

The aramid fiber market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2021 to 2027 for the following segments:

By Product

  • Para Aramid
  • Meta Aramid
  • Copolyamide

By Application

  • Safety Applications
  • Optical Fibers
  • Frictional Materials
  • Tire Reinforcement
  • Rubber Reinforcement
  • Electrical Insulation
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Thailand
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • GCC
       

Frequently Asked Questions (FAQ) :

Para aramid fibers captured more than 70% of the industry share in 2020 and will likely continue their dominance owing to superior strength and high heat resistance.
Safety applications could account for a substantial share of aramid fiber market led by growing defense investments in numerous countries.
Aramid fiber market generated USD 3.5 billion in annual revenue globally during 2020 and it is slated to expand at 9% CAGR up to 2027.
North America could grow at an 11% CAGR to exceed USD 2 billion by 2027 powered by increasing aircraft production for civil and defense purpose.
The COVID-19 pandemic has caused the worldwide aramid fiber sales to fall by 10% in 2020 due to disrupted supply chains, restricted mobility, and reduced consumer spending.

Premium Report Details

  • Published Date: Jul 2021
  • Pages: 200
  • Tables: 142
  • Charts / Figures: 24
  • Companies covered: 12
  • Countries covered: 18

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